The Korea Herald


[Graphic News] Number of startups drops 4.7% in H1

By Nam Kyung-don

Published : Sept. 19, 2022 - 08:00

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The number of startups in South Korea fell nearly 5 percent in the first half of the year due mainly to a plunge in new real estate businesses, government data showed.

A total of 696,000 new companies were set up in the country in the January-June period, down 4.7 percent from a year earlier, according to the data from the Ministry of Small and Medium-sized Enterprises and Startups.

The number of newly established real estate companies sank 18.9 percent on-year, with that of hospitality businesses decreasing 11.9 percent.

Excluding the property sector, the number of newly opened businesses declined 0.7 percent in the first half from a year earlier. (Yonhap)